Nominal - Financial Periods

Nominal - Financial Periods

INTRODUCTION

Agility is an accounting package also and therefore accounting periods need to be created.  These are normally set up at the beginning when a customer starts using Agility for the EPOS solution.
These financial periods are rolled over each year and they software opens both a current and next financial year periods when a year end is done.

From time to time Companies also change their financial year end and have to add more periods to one year to do this.

FINANCIAL PERIODS

WARNING: Only do this if you are sure this is what you need to do!

To navigate to the financial periods Nominal - Financial Periods - Period End Dates

Previous Year: Self Explanatory
Current Year: Self Explanatory
Periods in Current Year: Self Explanatory
Current Period Number is: This is indicated when the months are being closed down
Current Year Number is: Self Explanatory
Next Year End: Self Explanatory
Periods in Next Year: Self Explanatory

CHANGING YEAR END
In order to change the year end the Periods in Current Year needs to be increased so the additional periods are reflected below

Notice that the dates do not run in sequence and these need to manually adjusted by selecting from the drop down and choosing the next month.


First, change the Next Year End Date to reflect the new year end.
The dates will also need to be changed on the next financial period to reflect the change in the current:





    • Related Articles

    • Nominal - Month and Year End

      INTRODUCTION Agility is an account package and therefore various functions need to be applied for your financial records like Profit & Loss, Balance Sheet & Trial Balance. There is also the need to close of your periods (month end) and then your Year ...

    • Year End Stock Take

      Agility Pro has a stock taking feature – year end stock take. It is designed to simplify the year end stock take process by making it much more automated. Before you begin the Year End Stock Take, it is good practice to check your financial periods. ...

    • Month End and VAT Procedures

      There is no absolute requirement to close month ends as all month end reports can be run to a date current or in the past.   However I would suggest Close Purchase Ledger/Sales Ledger I would suggest closing the Purchase and Sales ledgers when you ...

    • Year End Stocktake App

      Inventory App Welcome to the new Agility Assistant Inventory App. In this article, we would like to walk you through using the app and all of it's screens. Guide 1. First click on the Inventory app. 2. Select the company. After selecting the company, ...

    • Nominals - Creating a Nominal Code

      INTRODUCTION Agility Professional is an accounting system also and Nominal Account Codes can be created. Create a Nominal Code Go to Nominal\Ledger Maintenance\Nominal Ledger Accounts This screen opens showing the chart of accounts ADD Select ADD to ...